Whales Market Founder Addresses Gm.ai Management Issues And Investor Compensation Plan

According to Odaily, Whales Market founder Dexter released a statement on X addressing the management issues and future plans for gm.ai. Dexter acknowledged a series of mismanagement, errors, and unfortunate timing, with poor team communication being a significant factor. He emphasized the team's responsibility and commitment to providing a complete path for investors. Dexter clarified that all funds raised from investors were used for development, and the team has rarely sold any team tokens from these projects, which can be verified on-chain. He also mentioned instances where they refunded seed investors out of their own pockets when a project failed. Dexter stressed that these points are not excuses for gm.ai's shortcomings but a glimpse into their past actions, highlighting their intention never to deceive anyone. He assured that neither the team nor the founders have cashed out or 'exit scammed' any presale funds for gm.ai. To address the issue better, they plan to transfer the remaining presale funds to a public wallet at some point during the compensation process. The presale took place in March, during a peak hype period, which was a double-edged sword. After the presale, the team spent five months trying to deliver on their promises, including building an AI project and a potential SOL product ecosystem. They developed AnotherUs, Intent.Trade, gm.fun, and the core gm model driving these efforts. However, none of these products achieved Product-Market Fit (PMF), which is one reason for the delayed token release. Dexter admitted the team faced immense pressure and hesitated, describing the token issuance as a 'trash show.' He refuted claims that they took the money and did nothing. Looking ahead, Dexter mentioned that they have some options to partially compensate GM investors for their losses and will share full details this Friday.